Today, Aug. 4, GeoAlaska LLC said that Chugach Electric Association Inc. has provided GeoAlaska with a non-binding letter of interest to acquire geothermal-sourced electricity pursuant to a long-term power purchase agreement, or PPA.
Chugach's non-binding letter says that Chugach is interested in working with GeoAlaska to determine the most cost-effective and efficient means to extend transmission infrastructure to connect and deliver baseload geothermal power to the Railbelt grid.
GeoAlaska, with its partner company, Ignis Energy Inc., is exploring for sustainable baseload geothermal power at Augustine Island and Mount Spurr -- both on the west side of Cook Inlet. Augustine Island has emerged as GeoAlaska's leading prospect with an expected power generation capacity of 200+ MW.
Chugach is a member-owned cooperative and Alaska's largest electric utility, providing safe, reliable and affordable electric service to more than 90,000 members in Southcentral Alaska. Chugach's strategic priority is to diversify and decarbonize its future power with an ongoing focus on reliability and affordability.
GeoAlaska's mission is to provide sustainable baseload geothermal power for the benefit of Alaska's economy and its long-term energy security.
GeoAlaska CEO Paul L. Craig, says, "GeoAlaska welcomes the opportunity to collaborate with Chugach Electric Association to provide sustainable geothermal energy to its members."
Augustine Island is in the southwest portion of Cook Inlet, immediately south of the Iniskin Peninsula. GeoAlaska's geothermal journey on Augustine Island began when its first prospecting permit was issued by DNR in 2022
--KAY CASHMAN
Editor's note: See full story in Aug. 10 issue of Petroleum News, available online Thursday, Aug. 7 at PetroleumNews.com.
